Alarm.com price target raised to $61 from $59 at Roth MKM

Roth MKM analyst Darren Aftahi raised the firm’s price target on Alarm.com to $61 from $59 and keeps a Buy rating on the shares after its “solid” Q2 outperformance. The company’s growth categories continue to clip at a 20%-25% level, with commentary suggesting that this can continue, the analyst tells investors in a research note. The firm adds that there could still be conservatism in Alarm.com’s raised guide.